A Barry-based property developer has expanded one of its hotels in Barry Island after securing £400,000 in funding from HSBC.
PropertyIndex completed the extension of Mount Rooms Hotel in the seaside town, renovating a derelict building into 14 new rooms and creating five new job roles.
The hotel expects to increase turnover by 40% as a result of the extension, as it looks to capitalise on the increased number of tourists visiting the town.
PropertyIndex’s property portfolio includes a range of workspaces, hotels and residential properties in Wales.
Chris Spiteri, co-director of PropertyIndex with Emma Ballson, said: “Barry and the surrounding area are benefitting from a surge in tourism, so, in response, we’ve created boutique style rooms that build on the hotel’s reputation ."
He added: “We’ve been banking with HSBC UK for two years and the team has always been extremely helpful in understanding our needs and supporting our expansions."
Area director at HSBC UK Business Banking in Wales, Zena Perry-Hartle said: “With the demand for staycations rising in the UK since the pandemic began and holidays in Wales becoming more popular, the Mount Rooms Hotel was facing increasing demand to be able to accommodate more tourists. We’ve watched the wider business go from strength to strength over the years and can’t wait to see it continue to develop and build more properties in the area.”
